Beatrice Mensah-Tayui, CEO of Cybele Energy
Chief Executive Officer of Cybele Energy Limited, Beatrice Mensah-Tayui, has described the petroleum agreement signed between her company and the Government of Guyana as a landmark achievement that signals a new phase of cooperation between Ghana and Guyana.
Speaking to the media in Ghana on Tuesday, 16 December, following the signing of the Production Sharing Agreement (PSA) for offshore Block S7, Mensah-Tayui said the deal reflects years of preparation and the importance of building strong internal teams to compete in the global energy sector.
“When we recognise that without our own teams being in place, nothing happens for us, then progress becomes possible,” she said, expressing gratitude to stakeholders in both Ghana and Guyana and calling for accountability and sustained support for the project.
Mensah-Tayui described the agreement as “a great day” for Cybele Energy, noting that it showcased not only the company’s capabilities but also a growing partnership between the two countries. “It marked a new day in the relationship between Ghana and Guyana. We are sister countries, two continents apart, but truly the same people, driven by the same desire to move our nations forward,” she stated.
Under the agreement, Cybele Energy was awarded offshore Block S7 as part of Guyana’s inaugural competitive licensing round launched in 2022. The contract incorporates modernised fiscal terms, including a 10 per cent royalty, a 10 per cent corporate tax rate, a reduced cost-recovery ceiling and a 50/50 profit-oil split between the Government of Guyana and the contractor, in line with Guyana’s updated model PSA.
The Cybele Energy CEO emphasised the need for strong local partnerships, urging Ghanaian companies seeking opportunities in Guyana to work closely with Guyanese counterparts. According to her, sustainable development in the energy sector must be built on collaboration, local content, and the transfer of knowledge and technology.
“If you choose to do business in Guyana, do not do so absent of the Guyanese people. Partner, collaborate and share knowledge. Development should benefit everyone,” she said.
Mensah-Tayui also touched on resilience and merit, particularly for women operating in male-dominated industries such as oil and gas. She encouraged professionalism, discipline and integrity, noting that consistent performance ultimately speaks louder than challenges or distractions.
Looking ahead, she disclosed that Cybele Energy will now move into the exploration phase for Block S7. This will involve initial geology and geophysics work, including the analysis of seismic data to better understand the block’s subsurface potential. She explained that timelines for subsequent activities will be guided by scientific data and technical assessments.
The Block S7 award comes shortly after Guyana awarded offshore Block S4 to a consortium of TotalEnergies, QatarEnergy and Petronas, highlighting growing international confidence in Guyana’s energy sector and regulatory framework.
Mensah-Tayui concluded by expressing optimism that continued collaboration between Ghana and Guyana in the energy space would deliver long-term benefits for both countries and strengthen their presence on the global energy stage.
